‘Make in India’ is going to support the steel industry but provide tough time for automakers

‘Make in India’ is going to support the steel industry but provide tough time for automakers

9 January 2019

Latest Steel Market News

Tata steel production slightly increased in Q3 FY19

(Asia- Pacific): Steel production of Tata Steel production edged up in Q3 FY19 to 3.3 million tonnes compared to 3.27 million tonnes in Q3 FY18. Its sales declined to 2.97 million tonnes compared to 3.3 million tonnes during the same period.

‘Make in India’ is going to support the steel industry but provide tough time for automakers

(Asia- Pacific): Modi government is expected to enforce tough rules in February 2019. The new rules will discourage imports of steel which will force automakers to source steel domestically. The ministry of steel requested major steel producers such as JSW Steel, SAIL and Tata Steel for a meeting with carmakers Maruti, Ford, Honda and Hyundai.